Bitcoin shows positive cues as the DXY dollar index hits a 21-year low. Despite the historical inverse correlation, Bitcoin demonstrates resilience, with investors shifting capital to alternative assets. Technical analyses suggest a potential bullish trend for Bitcoin.
President Donald Trump stated that Bitcoin transactions alleviate pressure on the US dollar and bolster US dominance in digital assets. He also emphasized the importance of US leadership in the crypto sector to counter China's influence.
Bitcoin price is nearing a bullish breakout as the U.S. Dollar Index (DXY) falls to its lowest since 2022. This Bitcoin surge is linked to potential Federal Reserve leadership changes and expectations of interest rate cuts.
Wall Street poured over $1 billion into Bitcoin ETFs this week amid rising bets on Fed rate cuts and a weakening US dollar. Analysts warn July could trigger a major dollar breakdown, fueling Bitcoin's rise toward new highs.
